Taking a respite from making sudden changes to its lending rates, Capital One Financial Corp (NYSE: COF) hasn’t made any alternations to it benchmark 30 year fixed mortgage interest rates on April 22, 2014. As of now, the potential home buyers, who are planning on having their realty investment financed through fixed or flexible home loan deals offered by Capital One Bank, will find no change in the standard interest rates today, which will certainly work in the favor of bank by helping it maintain a steady demand of its loan products in the market.
Among the standard, long term home loan offerings, Capital One Financial is currently offering its best 30 year fixed rate mortgage home loan packages at an interest rate of 4.375% and an annual percentage rate of 4.378% this Tuesday. On the other hand, for the borrowers who are planning on boarding the relatively shorter financing route, the bank publishes its 15 year fixed rate home loan deals at an interest rate of 3.500% and an annual percentage yield of 3.506% today.
In some cases, the potential home buyers face difficulties in financing their expensive realty investments through conventional mortgage deals. For such customers, the bank offers jumbo versions of its popular 30 year jumbo fixed rate mortgage home loan schemes at an interest cost of 4.375% and an annual return rate of 4.376%. Alternatively, the short term, 15 year counterparts of the 30 year jumbo fixed rate mortgage home loan options can be locked in at an interest rate of 3.875% and an APR yield of 3.877% today.
As far as the flexible lending options are concerned, the interested customers can find the best 5 year adjustable rate mortgage schemes being listed at an interest rate of 3.000% and being backed by an APR yield of 2.839%. On the other hand, for the mortgage shoppers interested in acquiring more flexible home loan deals, the bank offers its 7 year adjustable rate mortgage home loans at an interest rate of 3.375% and an annual return rate of 3.041%.
The mortgage rates quoted by banks move up and down on the basis of fluctuations in the price of mortgage backed financial securities, which are known to move along the stock market movements on a normal trading day. As the stock market weakened towards the end of the trading day, leaving the DJIA index at 15337.70, Capital One decided to follow its footsteps and quoted its mortgage rates accordingly. However, irrespective of the mortgage rates, stock prices of COF shares gained some strength and reached a higher price mark of 67.60 after a hike of +0.88%.
Disclaimer: The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes.
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